Know Your Numbers

Do you know how much profit your business is making?  Do know what your business is worth?  Do you know how much you owe and how much is owed to you?  If you don’t know where your numbers are, you could be heading for big trouble.

In this podcast, Gail is joined by Nick May, host of the interior design business podcast “The Chaise Lounge” and founder of Walls by Design in Denver, Colorado.  Today it’s Nick who’s asking the questions and Gail’s who’s providing the answers as they discuss Gail’s new book, Business Breakthrough: Your Creative Value Blueprint to Get Paid What You’re Worth, recently released on Amazon.com.

Nick kicked off the conversation by asking Gail what inspired her to keep going and helping designers.  “What inspires me is when our clients tell us that we have changed their lives, that they have doubled or tripled their business, and that they are thrilled because they feel so confident,” replied Gail. “I really want to help people.  I want to transform our industry and see the whole industry thrive and make a lot of money.”

As a follow-up, Nick wondered whether it’s possible for anyone in the interior design industry to be profitable.  Gail explained why she believes, realistically, about half of the people in the industry can make a decent living running an interior design business, noting that by “decent” she means at least six figures.

Gail listed some of the challenges designers face in running their businesses, but the main one, she said, was getting value for their creativity.  “It’s super important for designers to know how to charge for their worth,” she said, and went on to talk about how in her book she lays out a Creative Value Blueprint to help designers do just that.

When Nick has asked successful designers what’s the hardest thing for them in running their business, many say understanding the numbers.  How important is that for designers?, he queried.  “The numbers are your scorecard,” responded Gail.  “If you don’t know where your numbers are every single week or month, then you are guessing, and it could cost you everything.”

In closing, Nick wanted to know what Gail would say is the big takeaway from her book.  She answered, “Learning to run your business like a business.”

Gail went into more detail about these and other points.  Listen to the entire podcast to get more essential business advice for designers.

 

Mentioned in This Podcast

Gail introduced Nick as the host of the podcast “The Chaise Lounge,” in which interviews successful interior designers about their businesses.  To learn more about the podcast and to listen to individual episodes, go to thechaiseloungepodcast.com or wherever you get your podcasts.

Nick talked a bit about the supply chain problems confronting his painting business, which he founded, called Walls by Design and located in Denver, Colorado.  You can check it out at wallsbydesign.com.

Gail’s book, Business Breakthrough: Your Creative Value Blueprint to Get Paid What You’re Worth, is available now in Kindle format and paperback.

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